D.B. Root & Company LLC Lowers Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

D.B. Root & Company LLC cut its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 40.7% in the 3rd quarter, Holdings Channel reports. The fund owned 2,859 shares of the semiconductor manufacturer’s stock after selling 1,965 shares during the quarter. D.B. Root & Company LLC’s holdings in Micron Technology were worth $297,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Highline Wealth Partners LLC acquired a new stake in shares of Micron Technology in the 3rd quarter worth $26,000. Hobbs Group Advisors LLC acquired a new stake in Micron Technology in the second quarter valued at about $28,000. Davis Capital Management purchased a new stake in Micron Technology in the 3rd quarter valued at approximately $30,000. Richard W. Paul & Associates LLC raised its stake in shares of Micron Technology by 128.6% during the 2nd quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock worth $34,000 after buying an additional 144 shares in the last quarter. Finally, DT Investment Partners LLC lifted its holdings in shares of Micron Technology by 261.1% in the 3rd quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock valued at $34,000 after buying an additional 235 shares during the period. 80.84% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MU has been the topic of a number of recent analyst reports. Robert W. Baird dropped their price objective on Micron Technology from $172.00 to $150.00 and set an “outperform” rating on the stock in a report on Friday, September 27th. Morgan Stanley increased their price target on shares of Micron Technology from $100.00 to $114.00 and gave the company an “equal weight” rating in a report on Thursday, September 26th. Susquehanna decreased their price objective on shares of Micron Technology from $175.00 to $165.00 and set a “positive” rating on the stock in a report on Thursday, September 26th. Wedbush reaffirmed an “outperform” rating and issued a $140.00 target price on shares of Micron Technology in a report on Thursday, September 26th. Finally, UBS Group decreased their price target on Micron Technology from $153.00 to $135.00 and set a “buy” rating on the stock in a research note on Tuesday, September 17th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Micron Technology presently has a consensus rating of “Moderate Buy” and an average price target of $143.04.

Insiders Place Their Bets

In other news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $113.00, for a total transaction of $552,570.00. Following the completion of the sale, the executive vice president now directly owns 135,830 shares of the company’s stock, valued at $15,348,790. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.32% of the stock is currently owned by insiders.

Micron Technology Trading Up 1.4 %

Shares of Micron Technology stock opened at $113.41 on Friday. The firm has a market cap of $125.74 billion, a PE ratio of 166.78 and a beta of 1.18. The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29. Micron Technology, Inc. has a fifty-two week low of $71.71 and a fifty-two week high of $157.54. The business’s fifty day moving average is $99.49 and its two-hundred day moving average is $113.09.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.21. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The firm had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.65 billion. During the same period last year, the company earned ($1.21) EPS. The firm’s quarterly revenue was up 93.3% on a year-over-year basis. Analysts anticipate that Micron Technology, Inc. will post 8.31 earnings per share for the current year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th were paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date was Monday, October 7th. Micron Technology’s dividend payout ratio is currently 67.65%.

About Micron Technology

Micron Technology, Inc designs, develops, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Embedded Business Unit, and Storage Business Unit. It provides memory and storage technologies comprising dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; non-volatile and re-writeable semiconductor storage devices; and non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.